Questrade Reviews
Click Here to Open an Account at Questrade!
Product: Questrade Discount Brokerage
Company Name: Questrade
Company Web Site: http://www.questrade.com
Twitter Account: http://www.twitter.com/questrade
Headquarters: Toronto, Canada
Founded: 1999
Category: Online Stock Brokers
Description of Product:
Questrade is the largest independent discount brokerage in Canada.
Founded in 1999, the firm has tens of thousands of clients and a number of different product offerings.
The company offers the ability to trade stocks, options, gold, forex, mutual funds, fixed-income products and more. They also offer RRSP and TFSA accounts for Canadian clients.
Questrade offers a 1 cent per share commission structure for stocks ($4.95 minimum, $9.95 maximum) and a $9.95 + $1 contract structure for options trades.
Total Reviews: 1
Average Rating: 
Total Ratings: 1
Total  Ratings: 0
Total  Ratings: 0
Total  Ratings: 0
Total  Ratings: 0
Total  Ratings: 0
Reviews:
 Dave, Friday, November 20, 2009
Let me start by saying that I have been a (happy) Questrade account holder for the last 8 years and counting.
Let's rewind a bit. Back in 2000, I had an account with Cybertrader.com.
Shortly after 9/11, I received a notice that my Cybertrader account had been frozen. The reason? Apparently there is a rule that states that brokers need to have a physical office in Canada in order to accept Canadian clients. I suspect that a number of Canadian-based brokers reminded regulators of this rule, and our accounts were frozen until Cybertrader.com opened up an office in Canada.
Questrade, which is based out of Toronto, and Cybertrader eventually came to an agreement. Questrade would offer the Cybertrader platform to its clients, and Cybertrader would have a way of accepting Canadian clients once again. Win/win. I was one of these customers that migrated from Cybertrader to Questrade. I was just happy to have my account open once again.
This was late 2001 I believe, and I have been a happy Questrade account holder ever since. They no longer use Cybertrader.com software (Cybertrader was sold to Charles Schwab years ago), but I remain a loyal customer of theirs.
Here are the reasons why I like Questrade and can recommend them to anybody:
1. The software. I like their software package. I'm pretty finicky when it comes to software, and the Questrade software package passes all of my tests.
2. A multitude of different product offerings. Forex, mutual funds, options, gold, RRSPs, TFSAs - Questrade offers it all to their clients.
3. Independent. I like the fact that Questrade is the largest independent online broker in all of Canada. Don't take this to mean that they are small - they have tens of thousands of clients. I like the fact that Questrade built themselves up out of nothing and compete with multi-billion dollar companies. That means that they must be doing something right.
4. Commissions. Questrade offers competitive commissions. Sure, you can find lower commissions elsewhere, but you also have to consider the entire package. Their commissions are low enough that I am happy.
5. Customer service. I have told this story before, but I will tell it again. I sent Questrade an email on a Sunday, fully expecting to get a response on Monday. I not only received an email back on Sunday, but it was from one of the executives in the company. Questrade has REALLY good customer service.
6. 30 Trades in 30 Days promotion. Questrade offers 30 free trades in 30 days when you open up an account. That's a nice bonus when you are just getting your feet wet in the world of trading. This promotion could save you as much as $300 when you open an account.
All in all, I can easily recommend Questrade without any hesitation.
--
|
